Canadian Western Bank (TSE:CWB) Price Target Cut to C$33.00 by Analysts at Desjardins

Canadian Western Bank (TSE:CWB) had its price target reduced by Desjardins from C$35.00 to C$33.00 in a research note issued to investors on Monday, BayStreet.CA reports. They currently have a buy rating on the stock.

Several other analysts also recently commented on the stock. Veritas Investment Research restated a buy rating on shares of Canadian Western Bank in a research report on Monday, March 4th. Scotiabank raised Canadian Western Bank from a sector perform rating to an outperform rating and set a C$32.00 price target on the stock in a report on Tuesday, February 20th. CIBC upped their price objective on Canadian Western Bank from C$32.00 to C$34.00 and gave the stock a neutral rating in a research note on Wednesday, February 14th. Finally, Royal Bank of Canada decreased their target price on Canadian Western Bank from C$34.00 to C$32.00 and set an outperform rating on the stock in a research note on Monday, March 4th. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of C$33.55.

Canadian Western Bank Stock Up 0.5 %

Shares of CWB opened at C$27.13 on Monday. Canadian Western Bank has a 52 week low of C$22.96 and a 52 week high of C$31.64. The stock has a market cap of C$2.62 billion, a price-to-earnings ratio of 8.22, a PEG ratio of 2.95 and a beta of 1.54. The business has a 50-day simple moving average of C$27.65 and a two-hundred day simple moving average of C$28.79.

Canadian Western Bank (TSE:CWB) last released its earnings results on Friday, March 1st. The company reported C$0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.91 by C$0.02. Canadian Western Bank had a net margin of 31.97% and a return on equity of 8.58%. The company had revenue of C$289.99 million during the quarter, compared to analyst estimates of C$301.10 million. On average, equities analysts anticipate that Canadian Western Bank will post 3.5834464 earnings per share for the current fiscal year.

Canadian Western Bank Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Thursday, March 7th were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Wednesday, March 6th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 5.01%. Canadian Western Bank’s dividend payout ratio is currently 40.61%.

Insider Activity at Canadian Western Bank

In related news, Senior Officer Mark Stafford sold 1,708 shares of the company’s stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of C$27.94, for a total transaction of C$47,728.69. In related news, Senior Officer Mark Stafford sold 1,708 shares of Canadian Western Bank stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of C$27.94, for a total value of C$47,728.69. Also, Senior Officer Supriya Anna Maria James sold 4,600 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of C$27.00, for a total value of C$124,203.22. 0.32% of the stock is currently owned by insiders.

Canadian Western Bank Company Profile

Canadian Western Bank provides personal and business banking products and services in Western Canada. The company offers current, savings, US dollar, chequing, flex notice, organization, business trust, and trust fund investment accounts. It also offers commercial lending and real estate, equipment financing and leasing, aviation financing, and dealership financing products; agriculture lending products and AgriInvest savings account; variable and fixed rate mortgages; line of credit; registered retirement savings plan, consolidation, and vehicle loans; and credit cards.